RATE Group | Report: Cryptocurrency to Be Treated As a Prominent Trading Market in Australia
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Report: Cryptocurrency to Be Treated As a Prominent Trading Market in Australia

08 Sep Report: Cryptocurrency to Be Treated As a Prominent Trading Market in Australia

Posted at 13:01h in Cryptocurrency News by

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Report: Cryptocurrency to Be Treated As a Prominent Trading Market in Australia

The Australian Securities and Investments Commission (ASIC), has published a corporate plan that describes a vision for the country’s economic future as well as its intentions to regulate the cryptocurrency market.

Governing the Crypto Trading Market

The watchdog identified initial coin offerings (ICOs) as an increased risk to investors, among other upcoming financial products, but stated relevant rules and strict control mechanisms would be introduced to contain any inauspicious events.

In addition to introducing laws, the ASIC would treat the crypto trading market similar to a securities market and introduce a “regulated market infrastructure” applicable to crypto exchanges. The watchdog would also settle disputes between exchanges and investors during instances of “poor behavior and potential harm,” contrary to current market practices.

Related: Australian Stock Exchange Defers DLT Settlement Plans

With regard to creating a securities-like market for digital assets, ASIC…

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